Credit life insurance covers your debt repayments if you die, become disabled, or are retrenched. During debt review, you may have existing credit life policies on each individual loan.
Your options during debt review:
• Keep existing policies (payments included in your plan)
• Replace multiple policies with ONE comprehensive policy (often cheaper)
• Cancel policies (not recommended as you lose protection)
NDRC can arrange consolidated credit life cover that:
• Covers all your debts under one policy
• Costs less than multiple individual policies
• Provides retrenchment, disability, and death cover
• Payments are included in your restructured monthly amount
We recommend maintaining credit life cover to protect your family and ensure debts are settled if something happens to you.